Ideas are cheap and abundant; what is of value is the effective placement of those ideas into situations that develop into action.

But innovation is more than a new method. It is a new view of the universe, as one of risk rather than of chance or of certainty. It is a new view of man's role in the universe; he creates order by taking risks. And this means that innovation, rather than being an assertion of human power, is an acceptance of human responsibility.

Strategic planning is the continuous process of making present entrepreneurial (risk-taking) decisions systematically and with the greatest knowledge of their futurity; organizing systematically the efforts needed to carry out these decisions; and measuring the results of these decisions against the expectations through organized, systematic feedback.

Absolute size by itself is no indicator of success and achievement, let alone of managerial competence. Being the right size is.

What the customer buys and considers value is never a product. It is always utility, that is, what a product or a service does for the customer.

If you want to know what the future is, be part of its development.

In the next economic downturn there will be an outbreak of bitterness and contempt for the supercorporate chieftains who pay themselves millions. In every major economic downturn in US history the villains have been the heroes during the preceding boom.